Financing your retirement
Planning for your retirement? With an unpredictable stock market, low interest rates and pension nightmares, it's not surprising that many of us are turning to residential property as an alternative to help supplement pensions. Property has never been so easy to find.
Your Income from property
Property rental fees are a great way to supplement to your income during your retirement. Property can be sold to accrue capital and unlike annuities, property can be passed on to our next of kin.
Although annuities in payment can't normally be passed to the next of kin as a lump sum, unless specified guarantee periods, pension not taken as an annuity such as income drawdown, this may be passed to dependants.
As confidence in traditional pensions continues to decline, there is an increasing trend towards viewing property as a reliable way of adding to your savings than simply investing in your own home. A typical example would be a "Buy to Let", where a property is purchased with the aim of being let to tenants. Ideally this not only covers the mortgage but you end up being able to eventually sell the property for profit. Note the property must be kept in a decent state of repair, rental income is not always guaranteed as there may be times where the property has no tenant, and therefore the interest mortgage payments must be met.
Auction property can help supplement your financial security, so you don't have to worry about the future.
Note: Not all buy to let mortgages are regulated by the Financial Services Authority
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